Beyond sole proprietorships, entrepreneurs can also choose to operate their businesses as general partnerships, limited liability partnerships, limited liability companies, or corporations.

It is common for a person to start her or his business as a sole proprietor and at some achieved objective transition it into another business vehicle. Some of those other vehicles are described below.

Porters Points—Boring!

Carefully review your rules, your gas, your market analysis, and every other step you have taken so far. Where does you idea stand in relation to these legal frameworks? Decide and get to work. But to be sure—

Talk to your attorney. If you don’t have one, get one.

Talk to your accountant. If you don’t have one, get one.

That does it for Chapter 6: Boring!We told you we would be brief and to the point in this section of the book!